L&M Energy shareholders today approved the company's acquisition of L&M Coal Seam Gas at a special general meeting in Wellington.In a statement this afternoon, L&M Energy said the merger created a company with a “vastly improved” a
L&M Energy shareholders today approved the company's acquisition of L&M Coal Seam Gas at a special general meeting in Wellington.
In a statement this afternoon, L&M Energy said the merger created a company with a “vastly improved” asset position, putting it at the forefront of coal seam gas development in New Zealand.
L&M Energy chairman Geoff Loudon said shareholders had given a strong vote of confidence in the direction the company was taking.
He said the company’s shareholder meetings around New Zealand were well attended and demonstrated the level of interest in coal seam gas as a source of energy in New Zealand.
“Coal seam gas has been undervalued as a resource in New Zealand but has huge potential.
The new L&M Energy is moving quickly to unlock that potential."
